Ferrari (NYSE:RACE) Short Interest Down 15.9% in November

Ferrari (NYSE:RACE) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 1,220,000 shares, a decrease of 15.9% from the November 15th total of 1,450,000 shares. Based on an average trading volume of 305,100 shares, the days-to-cover ratio is currently 4.0 days. Currently, 1.0% of the shares of the company are short sold.

Ferrari Stock Up 0.5 %

Shares of NYSE RACE opened at $454.18 on Monday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. Ferrari has a twelve month low of $330.15 and a twelve month high of $498.23. The business has a fifty day simple moving average of $455.46 and a two-hundred day simple moving average of $445.98.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, November 5th. The company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.03). Ferrari had a return on equity of 44.67% and a net margin of 22.16%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm posted $1.98 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. Equities research analysts predict that Ferrari will post 8.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rothschild Investment LLC purchased a new stake in Ferrari during the 2nd quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Ferrari during the 3rd quarter valued at about $29,000. Planning Capital Management Corp purchased a new stake in Ferrari during the 3rd quarter valued at about $30,000. Valley Wealth Managers Inc. purchased a new stake in Ferrari during the 2nd quarter valued at about $33,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Ferrari during the 3rd quarter valued at about $33,000.

Analysts Set New Price Targets

A number of research firms have weighed in on RACE. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI increased their target price on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. UBS Group raised their price target on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Ferrari from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $385.00 to $525.00 in a report on Friday, October 11th. Finally, Morgan Stanley lifted their target price on Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $507.14.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.